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    Shinichiro Nakamura

    Research Analyst at Bank of America Securities

    Shinichiro Nakamura is an Equity Analyst at BofA Securities Japan Co., Ltd., specializing in Japanese banking and financial institutions with coverage of major companies including Mitsubishi UFJ Financial Group, Mizuho Financial Group, and JAPAN POST BANK. He maintains a diverse stock coverage with a success rate of approximately 67% and an average return of 15% per rating, earning a 3.51-star ranking on analyst platforms; his top recommendation on GMO Payment Gateway delivered a 90% annualized return. Nakamura began his career in financial research and has served as Analyst-Equity for BofA Securities Japan, contributing to earnings calls and industry research, with tenure prior to or around 2020 based on firm rebranding records. He holds recognized credentials as a registered analyst in Japan, actively participating in sector coverage for leading banking and financial institutions.

    Shinichiro Nakamura's questions to MIZUHO FINANCIAL GROUP (MFG) leadership

    Shinichiro Nakamura's questions to MIZUHO FINANCIAL GROUP (MFG) leadership • Q2 2022

    Question

    Shinichiro Nakamura of Bank of America Securities asked for an evaluation of the CET1 ratio, considering the hedge effect from bear funds, and inquired about the possibility of share buybacks as a form of additional shareholder return.

    Answer

    CFO Makoto Umemiya stated that the CET1 ratio of 9.6% (fully effective basis) already exceeds the 9% target, even after accounting for the eventual decline in COVID-related loans. He acknowledged that this strong capital position allows for consideration of incremental shareholder returns. While not committing to a specific plan, he confirmed that the company will evaluate striking a balance between growth investments and potential share buybacks.

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